Multiple Owner Accounts Sample Clauses
Multiple Owner Accounts. A multiple owner account is an account owned by two or more persons who possess equal rights to conduct all transactions on the account. Each account owner owns the multiple owner account with right of survivorship. This means that when one account owner dies his or her interest in the account and the funds in the account are owned by the surviving owner or owners of the account (subject to the terms of this agreement). Upon the death of the final account owner the funds in the account belong to that owner’s legal representative (subject to the terms of this agreement). Alternatively, you can designate a specific person or persons or entity as a beneficiary(s)/pod payee(s) for your multiple owner account in Part 1 of this contract. In the event of the final account owner’s death, the beneficiary(s)/pod payee(s) will be entitled to the funds in the account (subject to the terms of this agreement) upon proof of death and the beneficiary’s/pod payee’s identification. If you designate more than one beneficiary/pod payee on the account, each will be entitled to his or her (or its) proportionate share of the funds in the account (which will be determined by dividing the amount of the funds in the account by the number of beneficiaries/pod payees designated on the account), and will own those funds without right of survivorship. If a beneficiary/pod payee predeceases you, it is your responsibility to notify us and make any changes to the account. Beneficiary/pod payee designations made on Part 1 of this contract do not apply to Individual Retirement Accounts (IRAs) or any account life savings insurance, which have separate beneficiary designations. Any account owner acting alone may conduct transactions on the account, and each account owner is authorized to act for all other owners on the account for all transactions on the account, or request future services. Any account owner may sign and guarantees the signature of any and all other owners on the account for all transactions. Each owner understands that any owner acting alone may change or close the account, and that his or her signature on Part 1 of this contract confirms his or her agreement to any subsequent change made to the account by any other owner on the account. While any account owner may change or close the account acting alone, we will require all account owners to consent in writing to the addition or removal of any owner on the account (or the addition or removal of any agent to the account). A...
Multiple Owner Accounts. In the event that an Account is owned by more than one individual: (a) all the express and implied obligations of the Customer(s) under this Agreement shall be deemed to be joint and several obligations; (b) all references in the Agreement to the Customer shall, to the extent the context permits, be deemed to be references to all Customers on the Account or to any of them; (c) any notice, statement, or other communication given by Helm in accordance with the instructions specified in Paragraph 53 shall be deemed to be given to all of the Customers on the Account; (d) any instruction or other communication (whether oral or written or by telephone, e-mail, telefax, or other electronic transmission) given by any Authorized Signer(s) on the Account be binding on all Customers on the Account as if they had all given it; and (e) the surviving Customer(s) shall immediately notify Helm of the deaths of any Customer(s) on the Account.
Multiple Owner Accounts. All Multiple Owner Accounts (except IRA accounts) are joint Accounts with rights of survivorship, not tenancies by the entireties or tenancies in common. Upon the death of an Owner, that person’s interest will pass to the surviving Owner(s). If there are two or more surviving Owners, the account will be Joint with rights of survivorship, not held as tenancies by the entireties or tenancies in common. Any Owner of a Multiple Owner Account is authorized and deemed to be the agent of all Owners(s) and may act for the other Owner(s). The Credit Union may accept orders and instructions from any Owner. Each Owner guarantees the signatures of the other Account Owners. Any Account Owner may withdraw all funds in the Account, stop payment on Items drawn on an Account, transfer, or pledge to the Credit Union all or any part of the shares of any Account without the consent of the other Account Owner(s) with the Credit Union having no duty in such event to notify any other Account owner(s). Any such pledge shall survive your death and shall be superior to the rights of any other Account Owner(s). The Credit Union may require the written consent of the Joint Owner to be removed. The Joint Owner(s) so removed from this Account shall have no interest, rights, or privileges in and to the Account or assets thereof. To be binding, such revocation must be in writing and in a form acceptable to us. If any Item deposited in a Multiple Owner Account is returned unpaid, an Account is overdrawn, or if we do not receive final payment on any transaction, each of the Multiple Owner Account owners is jointly and severally liable to the Credit Union of the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of which of you created the overdraft, deposited or charged the item, or benefited from the transaction(s). If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any account of an Owner or all of the funds in the multiple party account, regardless of who contributed them. Furthermore, the Credit Union may charge the amount of the negative balance against any other account from which any of the Account Owners is entitled to withdraw money or charge such negative balance as an advance pursuant to any existing loan of any Multiple Account Owner to satisfy the negative condition pursuant to any credit agreement any Multiple Account Owner has with the Credit Union.
Multiple Owner Accounts. If this is a multiple Account, You agree to be jointly and severally liable, under the terms of this Agreement. You understand that any Account access device that is requested and approved will be mailed only to the primary accountholder’s address. We may refuse to follow any instructions which run counter to this provision. DELAYED FUNDS AVAILABILITY NOTICE. Subject to Our Delayed Funds Availability Policy, deposits made at Omaha Federal Credit Union locations may not be posted to Your Account until they are received and verified by Us. We are not responsible for delays in deposit posting due to improper identification on the deposit envelope. See Our Funds Availability Policy Disclosure for Our policy regarding the availability of Your deposits. DEBIT CARD TRANSACTIONS. You may use Your Card in conjunction with Your PIN in ATMs and/or such other machines or facilities as We may designate to (a) make deposits to Your Share or Share Draft Account(s); (b) withdraw cash from Your Share or Share Draft Account(s); (c) transfer funds between Your Share and Share Draft Accounts; and (d) learn the balances in Your deposit Accounts that You have with Us. You may also use Your Card to make goods and services at any location where the Card is accepted. If you do use Your Card for such transactions. You authorize Us to withdraw funds up to the available balance of Your Account(s) to cover any such transactions, provided You have available funds.
Multiple Owner Accounts. Anaccount owned by two or more persons is amultiple party account.
Multiple Owner Accounts. In the event that an Account is owned by more than one individual: (a) all the express and implied obligations of the Customer(s) under this Agreement shall be deemed to be joint and several obligations; (b) all references in the Agreement to the Customer shall, to the extent the context permits, be deemed to be references to all Customers on the Account or to any of them; (c) any notice, statement, or other communication given by DI in accordance with the instructions specified in Paragraph 45 shall be deemed to be given to all of the Customers on the Account; (d) any instruction or other communication (whether oral or written or by telephone, telefax, or other electronic transmission) given by any Authorized Signer(s) on the Account be